Posts filtered by tags: Nikola Corp[x]


 

Arrival becomes latest electric vehicle startup to test the public markets with a SPAC

Arrival has gone from stealthy electric vehicle startup to prospective public company in a span of a year. The UK-based company, which operated in relative secrecy for several years until January when it announced a $110 million investment from Hyundai and Kia, said Wednesday it has agreed to merge with special purpose acquisition company CIIG Merger Corp. Arrival was already considered one of the UK’s most valuable startups before Wednesday’s SPAC merger announcement.  This deal, which when ...
Tags: TC, Transportation, UK, US, Tech, Automotive, Nasdaq, Hyundai, Kia, Faraday Future, Fisker, SPAC, Rock Hill South Carolina, Chargepoint, LUMINAR, Abelson


Nio tumbles 14% after renowned short-seller Citron Research makes a bearish call citing increased Tesla competition

Reuters Shares of Nio plunged 14% on Friday after a report from Citron Research warned of an impending 48% crash. Still, the 2020 rally in the Chinese electric-vehicle manufacturer Nio now stands at a year-to-date gain of more than 1,100% as of Thursday's close.Nio and other electric-vehicle startups have seen outsized enthusiasm from investors in 2020 as the trend away from internal combustion engines towards electric cars accelerates.Visit Business Insider's homepage for more stories.202...
Tags: China, Trends, General Motors, Tesla, Credit Suisse, Gm, SPAC, Nikola, Left, Citron Research, Hindenburg, NIO, Matthew Fox, Trevor Milton, Andrew Left of Citron Research, Volkswagen Toyota


Nio extends its 2020 rally to more than 1,100% as electric vehicle competition heats up

NIO ES8 electric SUVs are seen displayed at the second media day for the Shanghai auto show in Shanghai Reuters The 2020 rally in Chinese electric vehicle manufacturer Nio continued on Friday and now stands at a year-to-date gain of more than 1,100%.Nio, like other electric vehicle startups, have seen outsized enthusiasm from investors in 2020 as the trend away from internal combustion engines towards electric vehicles accelerates.Whether Nio and its peers can hold onto and expand the gains...
Tags: China, Trends, General Motors, Tesla, Shanghai, SPAC, Nikola, Hindenburg, NIO, Matthew Fox, SHANGHAI Reuters, Trevor Milton, Volkswagen Toyota, Nikola Corp, Hindenburg Research, Fisker Lordstown Motors


Nikola says it built the first prototype of its electric semitruck as it reports third-quarter losses and grapples with fraud allegations

Nikola has run into trouble before when it comes to claims about its semi truck prototypes. Nikola Nikola announced Monday that it completed the first prototype of its Tre semitruck.  It built the prototype in partnership with manufacturer IVECO, and plans to finish four more prototypes by the end of the year.  One of the central fraud allegations Hindenburg Research leveled against Nikola earlier this year had to do with the capabilities of its first semitruck prototype, the Nikola One.  ...
Tags: Transportation, Trends, General Motors, Bloomberg, Electric Vehicles, Auto Industry, Gm, Milton, Mark Russell, Nikola, Hindenburg, Iveco, Tech Insider, Trevor Milton, Tre, Ulm Germany


GM Sells Out First Year of Electric Hummer Production

General Motors said it has sold out the first year's worth of its hulking GMC Hummer EV electric pickup truck after a splashy video reveal on Tuesday. Reuters reports: The GMC website showed a "reservations full" banner over the Hummer EV "Edition 1," due to start production in the fall of 2021. The next version of the truck, the $99,995 Hummer EV 3X, is not scheduled to begin production until the fall of 2022. The least expensive Hummer EV, starting at $79,995, is scheduled to go into productio...
Tags: Tech, General Motors, Tesla, Gm, Reuters, Gmc, Watts, Nikola Corp, Lordstown Motors, Tesla Cybertruck Bollinger


Nikola surges 13% after GM president reiterates confidence in partnership plans

Nikola Badger. Nikola Nikola leaped as much as 13% on Wednesday after General Motors President Mark Reuss said he still sees a path forward for a partnership between the two automakers.Appearing on Bloomberg TV and in interviews aired Wednesday, Reuss said the companies are moving forward in completing a $2 billion deal.A deal hasn't been finalized, he added, but the automakers have until December 3 to reach an agreement.Nikola tumbled on Friday after its CEO said it had a strategy ready ...
Tags: Cars, Trends, General Motors, Markets, Paypal, Electric Vehicles, Gm, Automotive Industry, Goldman Sachs, EVs, Cnbc, Milton, Mark Reuss, Jim Rogers, Bloomberg TV, Nikola


GM ‘Going Forward’ With Nikola Partnership Talks on Trucks

(Bloomberg) -- General Motors Co. is moving ahead in its talks with startup Nikola Corp. over a proposed partnership to make electric...
Tags: Gm, Nikola Corp, Nikola Partnership Talks on Trucks, Bloomberg General Motors Co


Loop Industries plummets 39% after a short-seller report claims its plastic-recycling technology doesn't work

Getty Images / Xinhua News Agency The same short-seller that successfully targeted Nikola Corp. in September has set his sights on a new name: Loop Industries.In a report released on Tuesday, Hindenburg Research alleged that Loop Industries' technology for recycling plastics doesn't work. "Our research indicates that Loop is smoke and mirrors with no viable technology," Hindenburg said. Shares of Loop Industries fell as much as 39% on Tuesday.Visit Business Insider's homepage for more stor...
Tags: Trends, Canada, Goldman Sachs, Hindenburg, Matthew Fox, Loop Industries, Nikola Corp, Hindenburg Research, Getty Images Xinhua News Agency, Shares of Loop Industries, DuPont Dow Chemical, Loop Industries Hindenburg


Loop Industries plummets 36% after a short-seller report claims its plastic-recycling technology doesn't work

Getty Images / Xinhua News Agency The same short-seller that successfully targeted Nikola Corp. in September has set his sights on a new name: Loop Industries.In a report released on Tuesday, Hindenburg Research alleged that Loop Industries' technology for recycling plastics doesn't work. "Our research indicates that Loop is smoke and mirrors with no viable technology," Hindenburg said. Shares of Loop Industries fell as much as 36% in Tuesday trades.Visit Business Insider's homepage for mo...
Tags: Trends, Canada, Hindenburg, Matthew Fox, Loop Industries, Nikola Corp, Hindenburg Research, Getty Images Xinhua News Agency, Shares of Loop Industries, DuPont Dow Chemical, Loop Industries Hindenburg


Nikola Criticized for Censoring YouTube Videos That Made It Look Bad

We’re getting the feeling that Nikola Corp is going to be the biggest dumpster fire since our multi-year love/hate relationship with Faraday Future. Content creators on YouTube are now criticizing the startup for abusing copyright claims to strike down videos that were coming down hard on its recent actions after at least two financial commentators […] The post Nikola Criticized for Censoring YouTube Videos That Made It Look Bad appeared first on The Truth About Cars.
Tags: Google, Youtube, Censorship, Editorials, Autos, Industry News, Nikola, News Blog, Corporate Shenanigans, Nikola Corp, Access Journalism


GM Considers MORE Nikola Stock?

General Motors is understandably considering revisions to its deal with Nikola Corp following the recent hullabaloo that tanked the startup’s stock. Allegations had surfaced that founder Trevor Milton had misled investors by promising technologies that did not yet exist, forcing him to leave Nikola’s ranks right around the time the Securities and Exchange Commission decided […] The post GM Considers MORE Nikola Stock? appeared first on The Truth About Cars.
Tags: General Motors, Gm, Autos, Securities And Exchange Commission, Nikola, News Blog, Trevor Milton, Steve Shindler, Nikola Corp, Nikola Stock, Stephen Girsk


Nikola Delays World Conference, GM Stalls Partnership

Nikola Corp. has decided to reschedule the Nikola World conference that would have offered the public a look at its all-electric Badger pickup and an opportunity to see what else the company was cooking up. Under normal circumstances, we would all just fault COVID-19 and move on with our frustrating little lives. But the firm […] The post Nikola Delays World Conference, GM Stalls Partnership appeared first on The Truth About Cars.
Tags: Electric Vehicles, Autos, Stocks, Badger, Nikola, News Blog, Automotive startups, Trevor Milton, Tre, Nikola Corporation, Nikola World, Nikola Corp


Nikola chairman, VectoIQ CEO Steve Girsky eyes his next transportation investment

Steve Girsky, the former GM vice chairman, consultant and investor whose special purpose acquisition company (SPAC) merged with hydrogen electric startup Nikola this summer, is in talks to back self-driving trucks startup TuSimple, according to four people familiar with the deal. The capital would come from Girsky’s VectoIQ LLC, a consulting and investment company he runs with managing partner Mary Chan, and would be part of a consortium of investors, according to one unnamed source who re...
Tags: Apple, TC, Transportation, Tech, Automotive, Mary Barra, Arizona, Gm, Morgan Stanley, SPAC, Tucson Arizona, Volkswagen AG, Nikola, Navistar, Mary Chan, Trevor Milton


Nikola’s Steve Girsky eyes his next transportation investment

Steve Girksy, the former GM vice chairman, consultant and investor whose special purpose acquisition company (SPAC) merged with hydrogen electric startup Nikola this summer, is in talks to back self-driving trucks startup TuSimple, according to four people familiar with the deal. The capital would come from Girsky’s VectoIQ LLC, a consulting and investment company he runs with managing partner Mary Chan, and would be part of a consortium of investors, according to one unnamed source who reque...
Tags: Apple, TC, Transportation, Tech, Automotive, Mary Barra, Arizona, Gm, Morgan Stanley, SPAC, Tucson Arizona, Volkswagen AG, Nikola, Navistar, Mary Chan, Trevor Milton


EV charging network ChargePoint to go public via SPAC

Several electric vehicle startups, including Canoo, Fisker Inc., Lordstown Motors and Nikola Corp., have gone public this year by merging with a special purpose acquisition company. Now, an electric vehicle charging company is joining the growing list of SPACs. ChargePoint, an electric vehicle charging network, has struck a deal to merge with special-purpose acquisition company Switchback Energy Acquisition Corporation, with a market valuation of $2.4 billion. ChargePoint will continue to be ...
Tags: TC, Transportation, Europe, Tech, Automotive, Electric Vehicles, North America, Baillie Gifford, SPAC, Chargepoint, Pasquale Romano, Nikola Corp, Canoo Fisker Inc Lordstown Motors, New York Stock Exchange The company, Switchback Energy Acquisition Corporation, ChargePoint Holdings Inc


Dow tumbles 510 points amid bombshell bank report, virus fears

Brendan McDermid/Reuters Stocks fell on Monday lower amid rising fears of a COVID-19 resurgence of COVID-19 and an investigative report focused on large banks.Major indexes pared losses in late trading. The Dow Jones industrial average slid 510 points after plummeting as much as 942 points earlier in the session.Healthcare stocks were among the biggest decliners following the passing of Supreme Court Justice Ruth Bader Ginsburg. Investors are sizing up the potential impact it will have on ...
Tags: UK, Supreme Court, Finance, Oil, US, Trends, Markets, Healthcare, Treasury, Stocks, Oil Price, Boris Johnson, Goldman Sachs, Gold prices, Stock Market, Morgan Stanley


Nikola’s chairman steps down, stock crashes following allegations of fraud

Nikola Corp. founder and Executive Chairman Trevor Milton is stepping down from the electric truck company effective immediately. This comes in the wake of a report from a noted short-selling accusing the company of fraud. Milton is succeeded by Stephen Girsky, a former General Motors executive who was already on the company’s board. Nikola company stock fell as far as 30% in pre-market trading, currently trading around $25 a share. Over the last few months, the stock experienced wild trading wi...
Tags: TC, Tech, General Motors, Tesla, Ford, Gm, Michigan, Milton, Ford General Motors, Nikola, Trevor Milton, Nikola Corp, Hindenburg Research, Stephen Girsky


Nikola stock collapses after founder Trevor Milton resigns over fraud allegations

Nikola Corp’s founder and chairman Trevor Milton resigned voluntarily as fraud allegations continue to dog the embattled electric truck maker. In his resignation letter posted to Twitter, Milton signaled his intent to distance himself from his company, and promised to defend himself “against false allegations levied against me by outside detractors.” “I will be cheering from the sidelines with you. Your greatest fan,” Milton tweeted late Sunday night. I will be cheering from the sidelines with y...
Tags: Startups, Milton, Nikola, Trevor Milton, Hard Fork, Nikola Corp, Hindenburg Research


Nikola stock collapses after CEO Trevor Milton resigns over fraud allegations

Nikola Corp’s founder and chairman Trevor Milton resigned voluntarily as fraud allegations continue to dog the embattled electric truck maker. In his resignation letter posted to Twitter, Milton signaled his intent to distance himself from his company, and promised to defend himself “against false allegations levied against me by outside detractors.” “I will be cheering from the sidelines with you. Your greatest fan,” Milton tweeted late Sunday night. I will be cheering from the sidelines with y...
Tags: Startups, Milton, Nikola, Trevor Milton, Hard Fork, Nikola Corp, Hindenburg Research


Electric truck startup Nikola hits back at short seller's report

Nikola ​Corp., a hydrogen and electric truck startup that recently inked a $2 billion stock deal with General Motors, responded Monday to a short seller's report that sent the company's stock plunging last week.
Tags: General Motors, Cnn, Nikola, Nikola Corp


SEC to investigate short-seller’s claims against Nikola, report says

The U.S. Securities and Exchange Commission is reportedly looking into claims that Nikola Corp. is involved in an alleged “intricate fraud,” the latest development in a controversy that erupted last week just days after GM took an 11% stake in the newly public company. Bloomberg reported Monday that the U.S. agency was examining the company to assess the merits of accusations made by short-seller Hindenburg Research. The Bloomberg report, which was based on unnamed sources, sent Nikola shares...
Tags: Transportation, Tech, Bloomberg, Automotive, Electric Vehicles, Gm, SEC, General Motors Co, U.S. Securities and Exchange Commission, Nikola, Hindenburg, Nikola Motor, Nikola Corp, Hindenburg Research, Hindenburg Research The Bloomberg


Nikola disputes fraud claims in carefully worded rebuttal

Nikola Corp., the hydrogen electric vehicle startup that went public this year through a merger with a special purpose acquisition company, released Monday a point-by-point rebuttal that attempts to disprove a report issued last week by short-seller Hindenburg Research that accused the company of fraud. In spite of the careful wording of the rebuttal, some of the company’s counterpoints raise more questions and even reveal problematic promotional tactics. Nikola’s lengthier denial follows a seri...
Tags: Transportation, Tech, Bloomberg, Automotive, Electric Vehicles, Gm, SEC, Milton, General Motors Co, Kirkland Ellis LLP, Nikola, Hindenburg, Trevor Milton, Nikola Motor, Nikola One, Nikola Corp


EV startup Nikola's stock plunges following short seller's scathing allegations

Nikola ​Corp. the hydrogen and electric truck startup that recently announced a $2 billion stock deal with General Motors, saw its stock price plunge for the second day in a row following a report by a short seller that alleged the company is an "intricate fraud." The company has since disputed the report and threatened to take legal action.
Tags: General Motors, Cnn, Nikola, Nikola Corp


Nikola plummets 13% after short-seller report alleges years of deception and false statements made by CEO

Nikola founder and executive chairman Trevor Milton. Massimo Pinca/Reuters Nikola plummeted on Thursday after a short-seller report from Hindenburg Research alleged that the company and CEO Trevor Milton made false statements over-hyping its technological capabilities.The Hindenburg report comes just two days after General Motors inked a $2 billion partnership with the EV manufacturer, sending shares of Nikola up nearly 50%.Hindenburg is short shares of Nikola at the time of publication of ...
Tags: Trends, General Motors, Tesla, SPAC, Milton, Worthington, Badger, Nikola, Hindenburg, Matthew Fox, ValueAct, Trevor Milton, Nikola Corp, Hindenburg Research, Trevor Milton Massimo Pinca, Reuters Nikola


Tesla plunges 21% after S&P snub and GM stakes Nikola

By Kit Rees and Stefan Nicola | Bloomberg Tesla shares fell the most ever Tuesday after the electric-vehicle maker missed out on being included in the S&P 500 Index, taking investors who had bet on its entry to the benchmark by surprise. Tesla shares closed down 21%. Declines started premarket and worsened as General Motors Co. said it would take a $2 billion equity stake in Nikola Corp. and partner with the fledgling truck maker to engineer and manufacture its Badger pickup. The news lifted Nik...
Tags: Business, Elon Musk, Tesla, Sport, Soccer, Gm, General Motors Co, Baird, Toyota Motor Corp, Kit Rees, Teradyne, Nikola, Etsy Inc, Michael Dean, Ben Kallo, Bloomberg Tesla


Nikola soars 53% after striking $2 billion manufacturing partnership with General Motors

Nikola Badger. Nikola Nikola Corp. surged 53% on Tuesday after it inked a strategic partnership deal with General Motors to manufacture its Badger electric pickup truck.General Motors will engineer and build all variants of the Badger, which is expected to enter production by year-end 2022.General Motors will receive an 11% stake in Nikola Corp. worth $2 billion for the manufacturing services it provides to Nikola Corp.Visit Business Insider's homepage for more stories.Nikola Corp. soared o...
Tags: Trends, General Motors, Bank Of America, Gm, Wedbush, Motors, Nikola, Matthew Fox, Daniel Ives, Trevor Milton, Nikola Corp, Nikola Badger, Nikola Badger Nikola Nikola Corp, Nikola Ives


Nikola soars 47% after striking $2 billion manufacturing partnership with General Motors

Nikola Badger. Nikola Nikola Corp. surged 47% in early trading on Tuesday after it inked a strategic partnership deal with General Motors to manufacture its Badger electric pickup truck.General Motors will engineer and build all variants of the Badger, which is expected to enter production by year-end 2022.General Motors will receive an 11% stake in Nikola Corp. worth $2 billion for the manufacturing services it provides to Nikola Corp.Visit Business Insider's homepage for more stories.Niko...
Tags: Trends, General Motors, Bank Of America, Gm, Wedbush, Motors, Nikola, Matthew Fox, Daniel Ives, Trevor Milton, Nikola Corp, Nikola Badger, Nikola Badger Nikola Nikola Corp, Nikola Ives


Nikola soars 35% after striking $2 billion manufacturing partnership with General Motors

Nikola Badger. Nikola Nikola Corp. surged 35% in early trading on Tuesday after it inked a strategic partnership deal with General Motors to manufacture its Badger electric pickup truck.General Motors will engineer and build all variants of the Badger, which is expected to enter production by year-end 2022.General Motors will receive an 11% stake in Nikola Corp. worth $2 billion for the manufacturing services it provides to Nikola Corp.Visit Business Insider's homepage for more stories.Niko...
Tags: Trends, General Motors, Bank Of America, Gm, Wedbush, Motors, Nikola, Matthew Fox, Daniel Ives, Trevor Milton, Nikola Corp, Nikola Badger, Nikola Badger Nikola Nikola Corp, Nikola Ives


Volkswagen-backed QuantumScape to go public via SPAC to bring solid-state batteries to EVs

QuantumScape, the solid-state battery company backed by Volkswagen Group, has agreed to merge with a special purpose acquisition company Kensington Capital Acquisition Corp. as it aims to raise the capital it needs to commercialize solid-state batteries for electric vehicles. The merger will give QuantumScape a post-deal market valuation of $3.3 billion. QuantumScape said it was able to raise more than $700 million through the business combination, a figure that includes $500 million in priva...
Tags: Tech, Automotive, Vw, Volkswagen, Electric, Stanford University, Kleiner Perkins, Nyse, Volkswagen Group, SPAC, JB Straubel, Fidelity Management Research Company, Tesla CTO, Redwood Materials, Jagdeep Singh, Justin Mirro


The Station: Luminar takes the SPAC path and Voyage lifts the hood on its next-gen robotaxi

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every Saturday in your inbox. Hello and welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. I’ll skip the typical wind up and get right to things this week. We’ve got SPACs, venture deals and micromobility news along with a peek at one AV company’s newest vehicle. I wanted to mention o...
Tags: Transportation, Elon Musk, Florida, California, Bono, Senate, China, Berlin, New York City, Sacramento, San Francisco, Linkedin, Tech, Tesla, Austin, Automotive